Sri Lanka To Rent Int’l Law Firm To Assist Debt Restructuring Amid Foreign Exchange Scarcity

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All moneys belonging to the Fund shall, pending the funding or software thereof in accordance with this Act be paid into a financial institution in the nation to the credit score of a separate account to be known as the General Fund Account. No moneys or different property of the Society, apart from the Fund, are available to fulfill any judgement obtained against the Society in relation to the Fund or for the cost of any claim allowed by the Council. May require a lawyer to provide, at a time and place decided by the Council, his books of account saved underneath this Act for inspection by an inspector appointed by the Council. An quantity equal to the amount by which the quantity of the payment or judgement, as the case could also be, together with the quantity of the moneys so received or recovered, exceeds the quantity of the pecuniary loss. In an motion brought under Subsection , all defences are available to the Society, which might have been obtainable to the lawyer in an action brought towards him for payment of compensation for the loss suffered.

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